Nigeria’s second-richest man declares 50-percent salary increase across his group
This highlights Rabiu’s dedication to supporting his entire workforce during tough economic times, acknowledging the challenges faced by his employees.
Nigerian billionaire
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods invests $200 million in sugar estate
The conglomerate is majority-owned by Nigeria’s second-richest man, Abdul Samad Rabiu, and his son, Isyaku Naziru Rabiu.
Nigerian billionaire Femi Otedola’s net worth rises by $300 million despite naira devaluation
The upswing in Otedola’s net worth is attributed to the remarkable performance of his 78.64-percent stake in Geregu Power Plc.
Food business of Nigeria’s second-richest man faces uncertainty amid FX rate volatility
BUA Foods Managing Director Ayodele Abioye unveils BUA Foods’ struggle with FX rate instability.
Nigerian billionaire Femi Otedola’s Geregu Power surpasses N2-trillion milestone
Geregu Power’s exceptional financial performance has solidified its position as one of Nigeria’s most profitable entities.
Mega refinery owned by Africa’s richest man set to export two cargoes of fuel oil
Trafigura Group, a multinational commodity trading company headquartered in Singapore, has been awarded the contract for the inaugural shipment.
Nigerian banker Herbert Wigwe dies in helicopter crash
Wigwe died on Saturday in a helicopter crash in the United States.
Nigerian billionaire Femi Otedola to pocket $17.6 million from Geregu Power in March
The dividend solidifies Otedola’s position among Nigeria’s top dividend earners and adds another financial milestone to his already impressive portfolio.
Billionaire Benedict Peters’ Aiteo partners with Atlantic Council to elevate Africa’s critical mineral influence
The groundbreaking collaboration sets the stage for a three-year program aimed at harnessing Africa’s substantial reserves of critical minerals.
Africa’s richest man to take two companies public, says NGX Chairman Umaru Kwairanga
Kwairanga said the Dangote Oil Refinery and Dangote Fertilizer Company are slated for listing on the exchange imminently.
Naira devaluation costs Nigerian billionaire Abdul Samad Rabiu $2.7 billion
According to Forbes, Rabiu’s net worth, which soared to $8.4 billion in January 2024, dropped to $5.7 billion.
Nigerian billionaire Mike Adenuga’s oil firm rakes in over $140 million in revenue in 2023
Adenuga, renowned telecom mogul and one of Africa’s wealthiest billionaires, owns a 74.4-percent stake, equivalent to 516,298,603 shares, in Conoil.
Africa’s richest man Aliko Dangote loses $5.7 billion as naira devaluation hits hard
The primary cause behind this abrupt plunge in Dangote’s wealth is attributed to the revaluation of his assets, triggered by the recent devaluation of the Nigerian naira.
Africa’s richest man Aliko Dangote gains $7.11 billion in January 2024
According to the Bloomberg Billionaires Index, his wealth surged from $15.1 billion on Jan. 1 to $22.2 billion on Jan. 31, marking a $7.11-billion increase.
Nigeria’s second-richest man’s food business hits $610-million revenue in 2023
The surge in revenue is attributed to price adjustments and volume increases from capacity expansion for IRS.
Billionaire Femi Otedola made chairman of Nigeria’s First Bank
The decision to elevate Otedola to the position of chairman was reached at a board meeting today.